October 23, 2018
Can Smart Home Products Help Sell Your Home?
There is no denying that smart home products from locks to thermostats, refrigerators, lightbulbs and smart assistants are making their way into Canadian households at record-breaking speeds. Put it all together and you have a snapshot of something that once only existed in science fiction. However, what impact can smart home upgrades have when it comes time to sell your home?
Privacy Over Connectivity
While many Canadians love the idea of being connected to their home 24/7, it seems there are just as many who distrust what smart home technology might mean for privacy.
Recently, a CBC Marketplace investigation showed how easy it was for an Oakville, Ontario family’s smart home system to fall victim to hackers. These “ethical hackers” were able to operate the home’s lights, access Amazon to make purchases with stored credit information, and even unlock the home’s front door.
What this means is that, while adding smart home components to your home may add a wow factor for some potential buyers, they may also keep others away. In fact, three out of the five concerns people have when considering smart home products revolve around security.
Add Wow Without the Worry
If you’re looking to make a few smart upgrades to help your home standout from the competition, opt for additions that may seem like less of a privacy concern. Here are a few smart home upgrades that potential homebuyers are most likely to appreciate:
The smart thermostat is generally seen as an innocuous first step into smart home technology. These units control your home’s heating and cooling by learning the behaviors of your household and adjusting temperatures accordingly. A smart thermostat may be a bonus to homeowners with an interest in controlling home heating and cooling costs.
Smoke and CO2 Detectors
The addition of smart smoke and CO2 detectors can make your home seem safer. Even the most smart-skeptical home buyer may see the value in a smoke detector that knows the difference between burnt popcorn and a house fire.
If you are taking on a few major renovation projects in preparation for the sale of your home, you may want to take the time to speak to your electrical contractor about wiring for home automation. This addition won’t be a selling point for everyone, but potential homebuyers with technophile leaning may relish the thought of a wired infrastructure for future projects.
While it may be too soon for smart home upgrades to make a significant impact on home resale values, investing in some low-risk additions can provide a wow factor that differentiates your home in the minds of potential buyers.
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